SEC Conference
An Accounting & Reporting Update
for Public Companies
WHAT TO DO ABOUT THE LATEST DEVELOPMENTS
Dan Goelzer, founding member of the PCAOB, will speak on the PCAOB, its staffing, structure and operations, relevance to auditors and nonauditors as well as other issues.
DAY ONE
Deluxe Continental Breakfast & Registration
7:00 AM
Welcome & Opening Remarks
8:10 – 8:20 AM
Sarbanes-Oxley: One Year Later
8:20 – 10:00 AM
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Where are we? |
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Has the Act had the intended effects and/or unintended consequences? |
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How Sarbanes-Oxley has affected audit committees |
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Creating a framework for effective audit committee oversight |
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Significant regulations and current issues impacting audit committees |
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Ongoing implementation issues |
Break
10:00 - 10:15 AM
SEC Hot Buttons
10:15 AM – 12:00 PM
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Overview and implementation of Sarbanes-Oxley rules |
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Focus on MD&A and financial reporting (Regulation G) |
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Guidance from the Fortune 500 Project |
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Expected additional rulemaking for critical
accounting estimates and Form 8-K revisions |
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Pro forma and non-GAAP financial measures |
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Off-balance sheet arrangements |
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Dealing with Corporation Finance |
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Areas of major concern |
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Late-breaking developments |
Luncheon & Speaker
12:00 - 1:30 PM
FASB & AICPA Update
1:30 – 2:45 PM
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Special purpose and variable interest entities |
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Guarantees and other liabilities under FIN 45 |
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Revenue recognition issues—the saga continues |
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Liabilities, equity and SFAS 150 |
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Convergence with IAS |
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The latest on derivatives—SFAS 149 |
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Other current projects |
Break
2:45 – 3:00 PM
Breakout Sessions (Select One)
3:00 – 4:15 PM
New Rules of Stock Exchanges
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New and proposed corporate governance standards |
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The latest on listing and delisting requirements |
How to Detect & Deter Fraud
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Assessing your organization’s vulnerability to fraud |
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Detecting gimmicks and fraud in financial reports |
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Controls that guard against company meltdown |
FIN 46 (Variable Interest Entities)
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What gets consolidated—when and why |
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Identifying VIEs |
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Disclosures and transactions |
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Determining the primary beneficiary |
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Measuring expected losses and residual returns |
Break
4:15 – 4:30 PM
Breakout Sessions (Select One)
4:30 – 5:45 PM
SFAS 150 – Debt versus Equity
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Classifying financial instruments |
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Restructuring your instruments |
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Manditorily redeemable securities |
Revenue Recognition Issues
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Classification and disclosure issues |
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Dealing with multiple deliverables |
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Consideration given by a vendor—treatment by vendor and recipient |
Proxy Statement Reporting
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The latest disclosure rules |
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Annual report summary information |
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Reduced disclosures for “small business” qualifiers |
Cocktail Reception
5:45 – 7:00 PM
DAY TWO
Deluxe Continental Breakfast
7:00 AM
Program Review & Update
7:50 - 8:00 AM
SEC Enforcement Activities
8:00 – 9:30 AM
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Fraudulent revenue recognition schemes,
including hidden “side letters,” channel stuffing and round-trip trading |
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Facilitating another company’s reporting violations |
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Criminal enforcement and prosecution |
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Interacting with the Division of Enforcement |
Sarbanes-Oxley: PCAOB
9:30 – 10:15 AM
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Sarbanes-Oxley mandate |
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Staffing, structure and operations |
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Auditing standards setting process |
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Relevance to nonauditors |
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Funding the board’s activities |
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What’s ahead |
Break
10:15 – 10:30 AM
MD&A
10:30 – 11:30 AM
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Recent developments |
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MD&A deficiencies that attract regulators’ attention |
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Practical considerations and concerns in today’s disclosure environment |
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Forecasts, trends and uncertainties |
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Safe harbors, forward-looking statements and information |
Luncheon
11:30 AM – 12:30 PM
Stock-Based Compensation:
Ripe for Reform
12:30 – 1:45 PM
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FAS 148—format and disclosures |
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Adopting the Fair Value model—pros and cons |
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Expensing options—will it happen? |
Sarbanes 404 Compliance
1:45 – 2:45 PM
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Controller’s overview of the organization |
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Best practices for disclosure and internal control program |
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Implementation: internal assessment,
readiness assessment, tools and coordination with independent accountants |
Break
2:45 – 3:00 PM
EITF Update
3:00 – 4:00 PM
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Revenue recognition issues |
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Issues relating to implementation of SFASs and EITFs |
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EITF issues discussed in 2003 |
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Recent EITF issues |
Conference Ends
4:00 PM
